RE: Brad - Time for RTO Update!5 Apr 2023 13:33
Many updates due here, which one comes first is anybody’s guess. But I suspect it could be confirmation of the 3x cash payments £115k under CVA considering they’ve already drawn-down some £850k and/or progress on RTO discussions?
Extract me from last update: Finally, regarding potential acquisitions, Iconic has been in early stage talks with various parties. However, given that the trading suspension was only lifted last week, Iconic is only now able to move beyond preliminary discussions with those parties. It is anticipated that any acquisition that Iconic makes will most likely be a reverse takeover under the Listing Rules. Further updates on these discussions will be provided in due course.
Firstly, to fulfill its obligations under the Company Voluntary Arrangement ("CVA"), Iconic still must make two cash payments of £50,000 each for the months of February and March, and then a final £15,000 payment for April.